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Assignment on Entrepreneurship & Small Business Management (pdf)

   

Added on  2020-01-16

12 Pages3294 Words469 Views
Entrepreneurshipand Small BusinessManagement

Table of ContentsIntroduction..........................................................................................................................................3TASK 1.................................................................................................................................................3P1 Different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship ventures. ..........................................................................................................3P2 Explore the similarities and differences between Social Entrepreneurship and Lifestyle Entrepreneurship, including two existing examples of each.......................................................4TASK 2.................................................................................................................................................5P3 How micro and small businesses impact on the UK economy...............................................5Covered in PPT............................................................................................................................5P4 Importance of small businesses to the growth of the social economy in the UK. .................5Covered in PPT............................................................................................................................5TASK 3 ................................................................................................................................................6P5 Characteristic and traits of Elizabeth Gooch and Tom Mercer and how they are differentiated from those of business managers..........................................................................6P6 How aspects of the entrepreneurial personality of Elizabeth Gooch and Tom Mercer reflecttheir entrepreneurial motivation and mindset..............................................................................6TASK4 .................................................................................................................................................7P7 How personal background and experience can hinder or foster entrepreneurship.& Link between entrepreneurial characteristics and influence of personal background and experience......................................................................................................................................................7Conclusion ...........................................................................................................................................8REFERENCES.....................................................................................................................................9

IntroductionPresent report is based on the entrepreneurship and small business enterprises. Reporttells about the different types of entrepreneurs and about typologies. Small business enterprisesplays a big role in the growth of the economy by providing various employment opportunities tothe large number of people and contributes in increasing their standard of living. How pastexperiences affect the business operations. Positive experience affect or influence the businessowners to implement innovation or take risk in the business activities and negative experienceshinder the ability of the entrepreneurs to take risk.TASK 1P1 Different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship ventures. Entrepreneurial ventures are of four types:Small scale entrepreneurship: These are one of the most popular type of entrepreneurshipnow a days. These are the one which start with a very small amount of capital and does not have a large amount of employees working under this. Plumbers, carpenters and electricians are the example of this type of entrepreneurship.Scalable start up entrepreneurship: These type of entrepreneurs are those who start the business with a innovative and creative idea in order to attract a large number of inventors to invest fund in them.Large company entrepreneurship: This type of entrepreneurs are the opposite of small business entrepreneurs. This type of entrepreneurs invests a large amount of fund and a number of employees work in this of entrepreneurship. These enterprises use the updatedtechnology in order to satisfy the changing demands and wants of the customers and generate a large amount of profit every year.

Social entrepreneurship: The main and primary objective of this type of entrepreneurs is to satisfy the demands of the customers or to solve a social problem. This type of entrepreneurs come in existence just to satisfy or solve a public problem.There are number of typologies exist in the business environment. The type of business affect the topology of the business.There are number of entrepreneurial ventures exist in the business environment these are as follows:Research entrepreneurs: These types of entrepreneurs first do a lot of research in order to satisfy the dynamic needs of the customers and then execute the business activities.Copycat entrepreneurs: As the name implies these type of entrepreneurs copy the idea of success of the another enterprise. These types of entrepreneurs does not do any kind of hard work but copy the idea of the other firm.Determined entrepreneurs: These type of entrepreneurs are the opposite of the copy cat entrepreneurs. These type entrepreneurs believes that success can be achieved without copying the idea of the other firm.Accomplished entrepreneurs: These are the successful entrepreneurs who tries to leave the legacy for the other entrepreneurs.Skeptical entrepreneurs: These type of entrepreneurs examine the success of other entrepreneurs. Try These type of entrepreneurs try to get the answer of the question is that how success can be achieved or measured.P2 Explore the similarities and differences between Social Entrepreneurship and Lifestyle Entrepreneurship, including two existing examples of each.Social entrepreneurs: These are that type of entrepreneurs who always worry about the future problems which can rise in the business. These invest a large amount of money in investing up todate technology and solve many problems and issues related to the business.

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